It’s been an interesting year in real estate, with Brexit affecting the market world wide, local area rental rates at all time highs, and Malibu, where a record-setting mobile home sale took place in May.
However, the Malibu real estate market remains steady, with homes sold this year so far showing only a slight dip in numbers: a total of 113 single-family Malibu homes have sold thus far, compared to 121 in 2015 during the same time period.
The median Malibu home price as of June 30, is $2,563 million. There are currently 245 active single-family Malibu homes for sale, and 27 condominiums. The median asking price for single-family homes as of this report was $4,950,000.
Malibu Beach Homes Sales Keep Pace
More Malibu beach side homes sold this year at the mid-year mark than last year the same period: 25 compared to 21 in 2015. Eight of the Malibu estates sold for more than $10 million, with the highest sale at $15 million.
There were 78 active beach-side, single-family Malibu homes for sale as of June 30.
Landside Malibu Homes Stay Above $1 Mil
Landside Malibu homes sales at the mid-year mark totaled 88 (90 in 2015). Thirty-one Malibu homes on the land-side sold for less than $2 million, and the highest priced sale, on Ridgemont overlooking Surfrider and Carbon Beach, went for $7.675 million.
Of the 168 active land-side Malibu home listings at the mid-year mark, only one was priced at less than $1 million. Located on Piuma Road, it is currently offered at $795,000, and has recently gone under contract.
There were 26 Malibu homes listed for sale at less than $2 million, and 19 at more than $10 million at the end of last month. One pending sale, in the luxury real estate community Marisol, located near County line, is priced at $16.9 million.
Malibu Condo Market Brisk
Beach side condo sales in Malibu stayed steady as well, with 8 sold by mid-year (9 in 2015). Three of the condos sold are located in Tivoli Cove, with the highest sale, on Malibu Road, at $3 million. As of June 30, there were three pending sales: on Seagull Dr. at $895,000, Whalers Lane at $795,000, and 19042 PCH for $2.25 million.
The land-side Malibu condo market was much more active during the first half of the year, with 26 sold, 7 pending sales and 18 active listings. Two current active condo listings are priced below $600,000. Two pending sales, and three sold are priced between $3.55 million, and $3.9 million.
Malibu Mobile Homes Sales Make Their Mark
The record high sale of a mobile home in Malibu’s Paradise Cove Mobile Home Park at $5.3 million sparked everyone’s attention this year.
Of the 11 mobile home sales in Paradise Cove, 7 went for more than $1 million, including one for $4.625, and another for $2.9 million (in addition to the record setter). There were 10 mobile homes sales in Point Dume by mid-year, all for less than $1 million.